us stock market, stock recommendation

Begin part 3 of 3

THE PLAYS

Good movers: FORR; AMT; KFX; PGNX

Monday night play results:
CIEN: Still working on the nice handle.
ININ: Fell to the 50 day EMA but still looking fine.
RVI: Started lower but bounced back. Still ready to fall.
XTO: Doji at the 10 day EMA. As with RVI, still ready to fall.

New Plays:

Upside:

Play Date: 06/06/2006
DBRN (Dress Barn--$24.64; -0.15; optionable): Apparel stores
http://biz.yahoo.com/p/d/dbrn.html
STATUS: Test 50 day EMA. A leader that made us some good money on its earlier run. It peaked at 28 and then fell in the market selling, but on very low volume. It bottomed along the February base, jumping higher Thursday on strong same store sales. It has faded back to fill that gap, reaching down to 23.79 on the Tuesday low and rebounding to close at the 50 day SMA. Looking for it to continue higher after this fill of the gap. A solid leader in retail, and retail, despite the rate hikes and energy prices, continues to rally.
Volume: 1.743M Avg Volume: 1.22M
BUY POINT: $26.25 Volume=1.8M Target=$31.50 Stop=$24.41
POSITION: DTQ IE - Sept. $25c (54 delta) &/or Stock
http://www.investmenthouse.com/ci/dbrn.html

Play Date: 06/06/2006
HOC (Holly Corp.--$43.04; -0.08; optionable): Oil and gas refining
http://biz.yahoo.com/p/h/hoc.html
STATUS: Test breakout. HOC showed a nice doji Tuesday on lower volume, tapping at the breakout point on the low (42.15) and rebounding to close flat. Nice break from a 6 week double bottom base formed over the 50 day EMA (39.02). Strong volume on the upside move, nice test. Lots of momentum and this test is setting up a good buy point.
Volume: 1.07M Avg Volume: 997.778K
BUY POINT: $44.38 Volume=1.2M Target=$53.00 Stop=$41.57
POSITION: HOC IV - Sept. $42.50c (55 delta) &/or Stock
http://www.investmenthouse.com/ci/hoc.html

Play Date: 06/06/2006
ICON (Iconix Brand Group--$16.79; -0.17; optionable): Footwear, etc.
http://biz.yahoo.com/p/i/icon.html
STATUS: Double bottom w/handle. A very short pattern has set up over the 50 day EMA (15.97), the past 5 weeks a small double bottom with handle. Sold off to tap the 50 day SMA (16.33) on the Tuesday low and rebounded. Low volume on the lateral move the past few sessions, setting up the next break higher to a new all-time high.
Volume: 336.367K Avg Volume: 521.008K
BUY POINT: $17.42 Volume=782K Target=$20.95 Stop=$16.31
POSITION: QIA KW - Nov. $17.50c (57 delta) &/or Stock
http://www.investmenthouse.com/ci/icon.html

Play Date: 06/06/2006
MXWL (Maxwell Technologies--$20.24; -0.91; optionable): Energy storage and power delivery components
http://biz.yahoo.com/p/m/mxwl.html
STATUS: Breakout test. Huge surge Friday on strong volume as MXWL broke out from a 16 week range between 17 and 20, mostly using the 50 day EMA (19.08) as support. Outstanding 7 to 2 accumulation in the base shows lots of buying setting up the breakout and run higher. Strong move then a test this week. Volume was lower Monday but jumped Tuesday as it tapped the 50 day EMA (19.08) on the low and rebounded to hold the breakout. Strong money flow is a good complement to the buying.
Volume: 356.412K Avg Volume: 148.834K
BUY POINT: $20.78 Volume=223K Target=$24.95 Stop=$19.65
POSITION: QMW LD - Dec. $20c (59 delta) &/or Stock
http://www.investmenthouse.com/ci/mxwl.html

New buy point on current position:

Play Date: 06/06/2006
OII (Oceaneering Intl.--$79.19; +0.73; optionable): Oil & gas drilling. Splits 2:1 on 6-19-06.
http://biz.yahoo.com/p/o/oii.html
STATUS: Big surge last Thursday cleared resistance at 76.35, and after a good run it has come back to test, tapping the 10 day EMA (76.33) on the low and rebounding for a positive close, all on strong, above average volume. That test on the low was a complete test of the break higher, and now OII is set to continue the move. This one has a lot of momentum behind it.
Volume: 883.8K Avg Volume: 471.784K
BUY POINT: $79.95 Volume=708K Target=$91.95 Stop=$76.21
POSITION: OII JP - Oct. $80c (49 delta)
http://www.investmenthouse.com/ci/oii.html

Good Investing!
Jon L. Johnson and your IH Alerts Team

All of the foregoing is commentary for informational purposes only. All statements and expressions are the opinion of Online Investment Services, LP. or its paid consultants and are not meant to be a solicitation or recommendation to buy, sell, or hold securities. We are not licensed or registered in the securities industry. The information presented herein and on our related web site has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. The security portfolio of Partners in Online Investment Services, LP. or its paid consultants may, in some instances, include securities mentioned herein and on our web site. Estimates, assumptions and other forward-looking information are subject to the limits of forecasting. Actual future developments may differ materially due to many factors.

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